Pensioner Eurobond holders in Ghana are urging the government to exempt them from the recently concluded $13 billion Eurobond debt restructuring, citing severe financial hardships.
The group expressed frustration over being included in the restructuring without any consideration, despite submitting multiple appeals to the Ministry of Finance.
The pensioners argue that the debt restructuring’s 37% haircut, reduced interest rates, and extended maturity dates of up to 10 years will cause them significant financial losses. Many of these retirees rely on bond returns for their livelihood during retirement and face escalating medical expenses.
“We invested in these bonds to support ourselves during retirement, but now the restructuring threatens our financial stability. The past two years of zero-interest payments have already caused us hardship,” the group stated.
They are calling for the government to reconsider their exclusion and engage in dialogue to explore alternatives that protect their financial well-being, noting that their small numbers and vulnerability should be taken into account.